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Consti - Profitability burdened by older projects

Consti had pre-announced Q3 revenue and EBIT of EUR 78.9m and EUR -1.4m respectively. Profitability was weakened by a limited number of projects launched in 2016 and 2017 within the Technical Building Services and Building facades business areas. Revenue growth continued at a slow pace, but the order backlog remains strong, at EUR 270m.
  • Consti had pre-announced Q3 revenue and EBIT on October 17th
  • Net sales in Q3 were EUR 78.9m (EUR 77.8m in Q3/17). Sales growth in Q3 was 1.4 % y/y.
  • EBIT in Q3 was EUR -1.4m (EUR -0.8m in Q3/17), at an EBIT-margin of -1.8 %. The weaker profitability concerns a limited number of projects launched in 2016 and 2017 in project deliveries within the Technical Building Services and Building Facades business areas, with the majority of projects to be completed in 2018.
  • Free cash flow was negative, at EUR -3.5m (2.9m).
  • Technical Building Services: Net sales in in Q3 were EUR 25m vs. EUR 23.9m Evli.
  • Renovation Contracting: Net sales in in Q3 were EUR 23.8m vs. EUR 22.7m Evli.
  • Building Facades: Net sales in in Q3 were EUR 34.1m vs. EUR 36.4m Evli.
  • Order backlog at EUR 270m, up 35.9 % y/y.
  • Guidance intact, Consti estimates that its operating result for 2018 will grow compared to 2017.

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